Commercial insurance brokerage, Navacord Corp. has officially surpassed the $1 billion premium threshold after adding Vancouver Island-based Waypoint Insurance Services to its growing family of firms on October 01, 2019.
The announcement marks Navacord’s ninth partnership in 2019 and sixth in Western Canada. T. Marshall Sadd, executive chairman of Navacord, described surpassing $1 billion in premium as a “momentous achievement for Navacord”. He added: “Our vision to build the great Canadian brokerage started in 2014 and we are realizing this vision with outstanding Broker Partners like Waypoint.”
Waypoint is one of the largest independent insurance brokerages in British Columbia. It has been serving local communities for over 100-years, and currently has fifteen offices on Vancouver Island, two in North Vancouver and one in Surrey. As part of Navacord, the brokerage will remain under the leadership of CEO, Tony Hayes, and the current management team.
“This is a good step for us and our future,” said Hayes. “We’re excited to be part of a national organization with broad industry expertise. Navacord is a partner that will allow us to provide a better experience to our clients and help us continue our growth in the marketplace.”
Shawn DeSantis, president and CEO of Navacord, has also expressed his excitement over the partnership. He commented: “Waypoint is a forward-thinking company that has doubled their revenue in five years. Their people, expertise and product offerings position us well for future expansion in the province as it significantly expands our footprint in British Columbia.”
Navacord now includes seventeen Broker Partners and MGAs across Canada and manages $1 billion in premiums with over 900 insurance professionals.
